Thanks to runaway federal government spending, the United States is expected to hit the national debt ceiling as soon as this summer.
In January, President Joe Biden met with newly minted House Speaker Kevin McCarthy at the White House to discuss a number of issues, including an increase in the debt limit with conditions. Biden said at the time there would be another meeting. In addition, he publicly declared plans to meet with McCarthy during the National Prayer Breakfast.
"Let’s start treating each other with respect. That’s what Kevin and I are going to do,” Biden said at the annual National Prayer Breakfast on Capitol Hill," Biden said. "We had a good meeting yesterday. I think we got to do it across the board. It doesn’t mean we’re going to agree and fight like hell. But let’s treat each other with respect."
Now, Biden is refusing to keep his word.
"Nearly two months ago, you and I sat down to discuss a path forward on the debt limit. Since that time, however, you and your team have ben completely missing in action on any meaningful follow-up to this rapidly approaching deadline," McCarthy wrote in a letter to Biden Tuesday. "With each passing day, I am incredibly concerned that you are putting an already fragile economy in jeopardy by insisting upon your extreme position of refusing to negotiate any meaningful changes to out-of-control government spending alongside an increase of the debt limit. Your position -- if maintained -- could prevent America from meeting its obligations and hold dire ramifications for the entire nation."
Mr. President:
— Kevin McCarthy (@SpeakerMcCarthy) March 28, 2023
I'm incredibly concerned you are putting an already fragile economy in jeopardy by insisting upon your extreme position on the debt limit. It’s time to drop partisanship, roll up our sleeves, & find common ground on this urgent challenge. https://t.co/HUbg7DckWU pic.twitter.com/t4zIaZUAqI
"I have no interest in brinksmanship -- only in doing what is best for the American people. We cannot solve the nation's fiscal problems overnight, and House Republicans are not demanding we do so. But we cannot continue to kick the can down the road and ignore America's ballooning national debt, all while you continue to spend trillions more, including through unaccountable executive fiat," McCarthy continued.
.@SpeakerMcCarthy calls out Biden on the debt limit:
— GOP (@GOP) March 28, 2023
“He has misled the whole Congress and the country… told the entire Congress that we're going to meet. At the Democratic retreat, he told the Democrats that they were planning meetings. He's never had one meeting” pic.twitter.com/kJ8XNGTGJD
Before McCarthy's January meeting with Biden, the White House said they were unwilling to negotiate over the debt limit and called on Congress to raise it without conditions or spending cuts.